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Rover Picture Gets Gloomier

5 May 2000

	London - Earlier today, Werner Samann, chairman of Rover Group, the
BMW-owned UK carmaker, warned that the Longbridge car plant could be closed
within three months, effectively putting Rover out of business.  The
comment was made in the face of efforts being made by John Towers, the
former Rover CEO, and his consortium to secure sufficient financial backing
to acquire the company. 

	Samann estimates that an additional $300-$462 million will be needed to
make a successful bid.  A couple of days ago,  BMW warned the consortium
that it must make a solid offer by the middle of next week to avoid the
closure that involves more than 9,000 jobs at Rover and thousands more
among regional suppliers. 

	Samann's remarks were made after Mr. Towers presented a detailed five-year
business plan on to Stephen Byers, Britian's chief industry minister.
Those attending the meeting said Mr. Towers had hinted at having solid
support for his proposal.  Senior government officials and BMW, however,
said the figures were vague, and refered only to letters of interest from
various parties.